The Treasury Department Tuesday auctioned $32 billion of three-year notes with a 1/4% coupon at a 0.346% yield, a price of 99.713736.
The bid-to-cover ratio was 3.96.
Tenders at the high yield were allotted 33.51%. All competitive tenders at lower yields were accepted in full.
The median yield was 0.330%. The low yield was 0.269%.
Tenders totaled $125,771,484,700 and the Treasury accepted $32,000,028,700, including $25,284,700 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, dated Oct. 15, will mature Oct. 15, 2015.